STAYHotel Dive · 1h ago
Braemar sells Key West resort for $190M amid shift to self-managed REIT
Executive Brief
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Braemar Hotels & Resorts has sold the Pier House Resort & Spa in Florida to Sixth Street for $190 million. This transaction supports the company's strategic transition into a self-managed REIT following its spin-out from Ashford Inc.
- 01Sixth Street acquired the luxury Pier House Resort & Spa for $190 million
- 02The sale facilitates Braemar's structural shift toward a self-managed REIT model
- 03CEO Richard Stockton confirms the deal marks significant progress in the Ashford management spin-out
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The Corporate Travel Management Guide →AI-generated summary · Verify at source
The sale of Florida’s luxury Pier House Resort & Spa to Sixth Street marks “meaningful progress” in Braemar’s management spin-out from Ashford Inc., per CEO Richard Stockton.